Lou Dobbs in at Fox Business, Out as a Candidate?

Lou Dobbs will return to cable news with a new show on Fox Business Network, Fox announced Wednesday.

The new role would make Dobbs one of the biggest names at the network almost exactly a year after he left CNN amid speculation that he would run for office. His plans to start a new show in early 2011 could take him out of the 2012 running — or, who knows? — position him for a groundswell candidacy.

“I'm excited and feel privileged to join the great team that Rupert Murdoch, Roger Ailes and Neil Cavuto have created, and I can't wait to make whatever contribution I can to FOX Business," Dobbs said in a statement.

Dobbs' hiring is perhaps the biggest for the network since it debuted about three years ago to challenge its chief rival, CNBC. Dobbs' outspokeness on immigration brought unwanted heat to CNN as it tried to position itself as an unbiased news source. But look for Fox to do much less introspection and let Dobbs be Dobbs.

Dobbs will develop and host a new daily program premiering in the first quarter of next year, the network said. He will also appear provide analysis and commentary on FBN programs.

“FOX Business has always been about putting the smartest, most interesting people on television and the addition of Lou Dobbs will serve to strengthen the best lineup in business news," said network executive vice president Kevin Magee.